S Subsidiary News

UK-based small-scale liquefied natural gas (LNG) supplier Avenir LNG has entered into a shipbuilding contract with Nantong CIMC Sinopacific Offshore & Engineering in China, a subsidiary of CIMC Enric, for two new LNG bunker and supply vessels.The two 20,000 cbm LNG bunker and supply vessels are scheduled to be delivered in the fourth quarter of 2026 and the first quarter of 2027.The newbuildings will feature new Type C tank designs, lower boil off rates, the latest engine technologies…

Wärtsilä Gas Solutions, part of technology group Wärtsilä, has signed a contract for the supply of cargo handling system for a new 12,500 m3 LNG bunkering vessel being built for Spanish shipowner Scale Gas, a subsidiary of Enagás.The order has been placed by the yard building the vessel, Nantong CIMC Sinopacific Offshore & Engineering, and was booked by Wärtsilä in the first quarter of 2024.The vessel is co-financed from the Support for Sustainable and Digital Transport Programme…

Esgian reports on the many rig movements that occurred last week in its Week 16 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a letter of award from an international oil company for a one-year firm drilling contract for a jackup offshore Qatar.TotalEnergies has exercised a three-well option for Transocean 12,000-ft drillship Deepwater Skyros offshore Angola at a rate of $400,000, keeping the rig working into December 2025.After initially beginning a short-term job in the US GOM in January 2024…

Malaysia’s MISC Group has entered into time charter party (TCP) and shipbuilding contracts for the development of world’s first two ammonia dual-fuel Aframax oil tankers.The TCP contract has been signed with Petronas' PETCO Trading Labuan Company (PTLCL), through MISC Group's petroleum arm AET.Using these vessels, PTLCL will be able to transport its products to customers around the world while contributing to the industry decarbonization by utilizing ammonia as the cleaner alternative…

MHWirth, a subsidiary of Norwegian oil services investment firm Akastor, has received an arbitration award issued by a tribunal in a dispute with Seatrium’s subsidiary Jurong Shipyard over the termination of four drilling rig unit contracts.As part of the ruling, MHW has been awarded an amount of $101 million as payment of termination fees.In addition, MHW has been made eligible for the reimbursement of legal costs and certain suspension costs (totaling about $7 million), as well as interest.Although the drilling rig unit contracts are held by MHW…

Norwegian shipbuilder Vard, a subsidiary of the Fincantieri Group, has presented the next generation of military vessels - the VARD Resilience series.To answer the Norwegian Navy’s demands for the new vessels, VARD has developed VARD Resilience series with a design that meets the request for standardization, modularization, adaptation to the customer's needs and purpose of the vessel.According to Vard, the Resielince series has been designed with a long service life in mind.“One…

The United States' first Jones Act-compliant offshore wind turbine installation vessel (WTIV), Charybdis, was launched into the water at the Seatrium AmFELS shipyard in Brownsville, Texas.The 472-foot WTIV—the first and only to be constructed in the U.S.—is being built for Blue Ocean Energy Marine, a subsidiary of Dominion Energy, who announced the milestone on Monday. Welding of the ship's hull and commissioning of the vessel's four legs and related jacking system has been completed…

Finnish shipping company Meriaura announced it has placed an order for two Ecotrader cargo ships from Dutch shipyard Royal Bodewes. The ships will be built in Hoogezand for scheduled delivery in January and December 2026.The ships are 105 meters long, 1A ice classed 6750 DWT vessels, designed to achieve the lowest possible emission levels, Meriaura said. Like the EcoCoaster vessels Eeva VG and Mirva VG delivered in 2016, the newbuilds will be capable of operating on biofuel made from recycled raw material produced by Meriaura’s subsidiary VG-Ecofuel.

Esgian reports on new contracts for Borr Drilling and Shelf Drilling (North Sea) jackups in its Week 15 Rig Analytics Market Roundup. Additionally, Energean has selected a drillship for its upcoming drilling campaign offshore Morocco. South America remains vital to the floating rig market, with ExxonMobil moving ahead on a sixth development on the prolific Stabroek block offshore Guyana and Petrobras reporting a new discovery in Brazil's Potiguar Basin.Report Outline:ContractsBorr Drilling has announced new contract commitments for three of its premium jackup rigs…

Austal USA earlier this month celebrated the start of construction on the first of three LCU 1710 Landing Craft Utility vessels for the U.S. Navy at the company’s Mobile, Ala. shipyard.Austal USA, a subsidiary if the Australian shipbuilding group Austal, was awarded a US$91.5 million (A$143.4 million) contract in September 2023 that includes three LCU 1710 vessels and associated support efforts.Austal CEO Paddy Gregg said the start of construction on Austal USA’s latest steel…

Arctia Meritaito, a subsidiary of Finland's Arctia, announced it has been awarded a contract by the Norwegian Mapping Authority to perform hydrographic seabed surveying as part of the 2024 Mareano program.Under its contract from the Norwegian Mapping Authority's Hydrographic Service (NHS), Arctia Meritaito will survey approximately 1,900 square kilometers with multibeam echosounder and sub bottom profiler in potential offshore wind area Sørvest F in the North Sea.The surveys will be conducted by the multipurpose research vessel Pohjanmeri.

Damen Naval has contracted RENK to supply the gearbox systems for the new anti-submarine warfare (ASW) frigates.The Dutch shipyard is building four new frigates, two each for the Royal Netherlands Navy and the Belgian navy.The contract includes eight gearboxes that are part of the CODLAD (COmbined Diesel-eLectric And Diesel) propulsion system.RENK's Dutch subsidiary Schelde Gears will provide support in design and service activities.The first gearboxes are due to arrive for installation in October 2025…

Norwegian shipbuilder Vard, a subsidiary of the Fincantieri Group, has appointed Cathrine Kristiseter Marti as its new Chief Executive Officer (CEO).Starting from June 1, 2024, Marti will take over from the current CEO, Alberto Maestrini, who will remain in his position as Chairman of the Board.Maestrini will continue to lead the Offshore and Special Vessels business in Fincantieri and through this continue to support Vard’s integration in the Fincantieri Group.The appointment…

Subsea7's renewables-focused offshore installation subsidiary Seaway7 has secured a ‘sizeable contract’ by PGE Polska Grupa Energetyczna and Ørsted for the transport and installation of the substations for the Baltica 2 offshore wind farm in Poland.Seaway7’s scope includes the transport and installation of four substations. Offshore activity is scheduled to take place in 2026 utilising both heavy lift and heavy transportation vessels.The ‘sizeable contract’ for Seaway7 means it…

St. Johns Ship Building on Wednesday announced it has signed a contract with Seapath for construction of a series of six ABS deck barges in support of their Jones Act leasing business.The barges will be built at St Johns Ship Building’s facility in Palatka, Fla. and will be dispatched to multiple charterers along the US East Coast.Seapath is a subsidiary of the Libra Group, which is also parent to St. Johns’ holding company, Americraft Marine Group.Joshua Lubarsky, CEO of Seapath, said, “Domestic maritime transportation is the backbone of the US transportation system.

Avikus, HD Hyundai's autonomous navigation in-house startup, has verified that its autonomous navigation system is capable of reducing fuel use by as much as 15%, which is expected to reduce carbon emissions by 10%.The fuel savings were quantified on a 325,000-ton very large ore carrier (VLOC) operating several times on a 5,800-mile route from Singapore to Brazil using Avikus’ autonomous HiNAS Control system.The verification of this performance was conducted through procedures that were jointly developed by HD Korea Shipbuilding & Offshore Engineering and Avikus…

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

Dutch marine services firm Boskalis has completed its activities in support of the development of Ocean Winds’ 882 MW Moray West offshore wind farm in Scotland.As part of its multidisciplinary role in the project, Boskalis deployed six vessels to carry out large number of activities off the east coast of Scotland in the Moray Firth.First, Boskalis’ wholly-owned subsidiary Gardline carried out extensive geotechnical and geophysical survey works prior to the installation work.Then…

The U.S.

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

Libra Group subsidiary Seapath has launched a Jones Act leasing business offering maritime leasing and financing solutions and a growing portfolio of vessels valued at approximately $25 million.The group said it sees significant unmet demand for the supply of Jones Act compliant transport assets.Joshua Lubarsky, president of Seapath, said, “Domestic maritime transportation is the backbone of the U.S. transportation system. By launching our new Jones Act leasing business, Seapath…

Esgian reports that drilling contracts have been announced this week for operations in Brazil and the Philippines, and new discoveries have been confirmed in the UK and Namibia in its Week 11 Rig Analytics Market Roundup.ContractsCOSL Drilling has emerged as the winner for Petrobras' moored semisubmersible tender with the 4,600-ft Nanhai 8 (also known as Nan Hai Ba Hao).Noble has secured a high-dayrate drillship contract with Prime Energy in the Philippines.Drilling Activity and…

A floating offshore wind farm planned in Arctic waters on Friday received 2 billion Norwegian crowns ($193 million) in state funding, with Norway viewing the still costly technology as a key contributor for industry development and emission cuts.The GoliatVind project in the Barents Sea, consisting of five 15 megawatts turbines and seeking to supply power to the Arctic town of Hammerfest, beat out six other applicants in a tender by government agency Enova.Norway hopes that floating offshore wind will provide an industrial future for its offshore supply industry as well as a means of cutting e